Blackstone Inc. (NYSE:BX) is CIBC Private Wealth Group LLC's 8th Largest Position

CIBC Private Wealth Group LLC trimmed its stake in Blackstone Inc. (NYSE:BX - Free Report) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,837,549 shares of the asset manager's stock after selling 143,912 shares during the period. Blackstone makes up about 1.5% of CIBC Private Wealth Group LLC's portfolio, making the stock its 8th biggest position. CIBC Private Wealth Group LLC owned about 0.67% of Blackstone worth $841,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Blackstone during the 3rd quarter worth approximately $631,000. FMR LLC lifted its position in shares of Blackstone by 6.1% during the third quarter. FMR LLC now owns 2,155,068 shares of the asset manager's stock worth $330,006,000 after purchasing an additional 124,462 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of Blackstone by 8.7% in the third quarter. Townsquare Capital LLC now owns 18,367 shares of the asset manager's stock worth $2,813,000 after purchasing an additional 1,466 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Blackstone by 1.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 28,505 shares of the asset manager's stock valued at $4,365,000 after buying an additional 310 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Blackstone by 1.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,934 shares of the asset manager's stock valued at $21,275,000 after buying an additional 2,331 shares during the period. Institutional investors own 70.00% of the company's stock.

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Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BX has been the subject of a number of research reports. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. Wells Fargo & Company dropped their price objective on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 20th. Finally, Barclays restated an "equal weight" rating on shares of Blackstone in a research note on Friday, February 7th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $171.13.

Blackstone Stock Performance

Shares of NYSE:BX traded down $12.10 during midday trading on Thursday, reaching $135.56. The company's stock had a trading volume of 6,030,001 shares, compared to its average volume of 3,466,367. The firm has a market capitalization of $98.88 billion, a PE ratio of 37.34, a P/E/G ratio of 1.07 and a beta of 1.61. The stock has a fifty day moving average of $158.58 and a 200 day moving average of $167.47. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 4.25%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is currently 158.68%.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.